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Energy ( NYSEARCA: XLE ) is the biggest sector decliner by far in early trading in a broad stock market rout Thursday, with WTI August crude oil ( CL1:COM ) -4.3% at $92.11/bbl and September Brent crude ( CO1:COM ) -3.5% at $$96.10/bbl. Nine of the 15 biggest...
Shares of Devon Energy (NYSE: DVN) surged 25.1% in the first half of 2022, according to data provided by S&P Global Market Intelligence . That was an impressive performance, especially considering that the S&P 500 tumbled 20.6% during that p...
Oil prices are booming this year. While crude prices have cooled off recently by falling below $100 a barrel for the first time since early May, oil is still up more than 30% this year. All this means oil stocks are generating a gusher of cash. Many oil companies are choosing to r...
Enerplus is one of the few Canadian independents with substantial operations in the United States. The company produces a relatively balanced mix of crude oil and natural gas, which is quite nice to see given the fundamentals of each of these products. Enerplus is returning about ...
Jeff Currie, head of commodity research at Goldman Sachs, gave a wide-ranging interview on commodity cycles and inflation drivers. In this article, we summarize that interview and add some commentary of our own. We think energy investors will be encouraged by the tone of his comme...
I'm starting this article by explaining how dire the oil supply situation has become, making it likely that oil prices remain elevated on a long-term basis. Devon Energy is in a great spot thanks to low breakeven prices, high free cash flow generation, low debt, and its focus on divid...
Shares of U.S. shale producers Ovintiv (NYSE: OVV) , Devon Energy (NYSE: DVN) , and Diamondback Energy (NASDAQ: FANG) rallied hard today, climbing 10.8%, 5.6%, and 5.8%, respectively, as of 2:52 p.m. ET. Ever since the Federal Reserve hiked interest rates by 75 b...
Marathon Oil Corporation has paid down over $1 billion in debt. Dividends are small, but it is repurchasing shares as part of returning +50% of cash flow from operations 1Q22. This $14.6 billion market-cap company produces significant oil volumes from the North Dakota Bakken. Improved...
Energy sector has reversed dramatically, falling close to 25% since. The price of oil has pulled back significantly, which causes compression in gross margins for suppliers. Most industries will breathe a sigh of relief, but energy companies will be in the other camp. Up...
Crude oil futures extended their losses on Wednesday following yesterday's brutal selloff, with Brent futures now joining WTI in dipping below $100/bbl amid ongoing worries about a recession that would hurt energy demand. August WTI crude ( CL1:COM ) -3.2% at $96.27/bb...
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2024-06-01 06:44:00 ET The oil patch is undergoing a major consolidation wave. Several oil companies are acquiring smaller rivals in deals that will enhance their scale, reduce costs, and boost their free cash flow. Most of the industry's largest players have now s...
2024-05-24 11:30:03 ET Morgan Stanley analyst issues OVERWEIGHT recommendation for DVN on May 24, 2024 09:32AM ET. The previous analyst recommendation was Overweight. DVN was trading at $48.425 at issue of the analyst recommendation. The overall analyst consensus : BUY. ...
2024-05-24 11:00:06 ET Devin McDermott from Morgan Stanley issued a price target of $52.00 for DVN on 2024-05-24 09:32:00. The adjusted price target was set to $52.00. At the time of the announcement, DVN was trading at $48.425. The overall price target consensus is at $...